Liquidity payments — Total cost of revenues
Cboe Global Markets Liquidity payments — Total cost of revenues increased by 0.6% to $446.10M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 13.0%, from $394.80M to $446.10M. Over 4 years (FY 2021 to FY 2025), Liquidity payments — Total cost of revenues shows relatively stable performance with a 0.9% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
An increase typically signals higher trading volumes or a strategic decision to increase rebates to capture more market share, while a decrease may indicate lower volume or a shift in pricing strategy.
Detailed definition
This metric represents the aggregate financial outlays paid to market participants who provide liquidity to the exchange...
Peer comparison
Comparable to 'liquidity rebates' or 'access fees' paid by other major global exchanges and electronic trading venues to incentivize market makers.
cboe_segment_liquidity_payments_total_cost_of_revenuesHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $377.90M | $375.30M | $395.70M | $467.50M | $429.00M | $392.30M | $381.40M | $371.80M | $337.40M | $323.70M | $352.90M | $338.80M | $307.00M | $317.60M | $365.70M | $394.80M | $418.00M | $453.30M | $443.60M | $446.10M |
| QoQ Change | — | -0.7% | +5.4% | +18.1% | -8.2% | -8.6% | -2.8% | -2.5% | -9.3% | -4.1% | +9.0% | -4.0% | -9.4% | +3.5% | +15.1% | +8.0% | +5.9% | +8.4% | -2.1% | +0.6% |
| YoY Change | — | — | — | — | +13.5% | +4.5% | -3.6% | -20.5% | -21.4% | -17.5% | -7.5% | -8.9% | -9.0% | -1.9% | +3.6% | +16.5% | +36.2% | +42.7% | +21.3% | +13.0% |
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Frequently Asked Questions
- What is Cboe Global Markets's liquidity payments — total cost of revenues?
- Cboe Global Markets (CBOE) reported liquidity payments — total cost of revenues of $446.10M in Q1 2026.
- How has Cboe Global Markets's liquidity payments — total cost of revenues changed year-over-year?
- Cboe Global Markets's liquidity payments — total cost of revenues increased by 13.0% year-over-year, from $394.80M to $446.10M.
- What is the long-term trend for Cboe Global Markets's liquidity payments — total cost of revenues?
- Over 4 years (2021 to 2025), Cboe Global Markets's liquidity payments — total cost of revenues has grown at a 0.9% compound annual growth rate (CAGR), from $1.65B to $1.71B.
- What does liquidity payments — total cost of revenues mean?
- The total amount paid to market participants as incentives for providing liquidity to the exchange's trading platforms.